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Want the Cheapest Credit Card Processing? Surcharging May Be the Answer

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The purpose of interchange fees is to compensate the issuing banks for the risks and costs associated with processing and managing credit card transactions. Point-of-sale disclosure: When processing a transaction, ensure the POS system clearly breaks down the transaction amount, including the base price and the surcharge amount.

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Everything You Need To Know about Merchant Processing and How To Choose the Right Solution for Your Needs

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Depending on the business type, merchant processing solutions are of two types: Point-of-sale (POS) systems POS systems are a popular payment collection system, with more than 93,300 companies using them in the US alone. In comparison, POS systems are ideal for businesses that operate from one single location.